Iraqi Prime Minister encourages Egyptian investment in Iraq’s construction sector

Prime Minister Mohammed Shia al-Sudani of Iraq has urged Egyptian companies to consider investing in residential complexes within Iraq. Al-Sudani’s call to action came during a meeting with a delegation of Egyptian private sector representatives, where he emphasized the importance of fostering ties with Iraq’s private sector. This was revealed in a statement issued by the Prime Minister’s Office (PMO) following the meeting.

During the encounter, Prime Minister Al-Sudani underscored the proficiency of Egyptian companies in various sectors, including real estate development and housing. He also highlighted the potential for Egyptian firms to explore opportunities within Iraq’s pharmaceutical industry. Al-Sudani emphasized the Iraqi government’s commitment to expanding the agricultural and industrial sectors, citing ongoing initiatives such as the approval of nearly 40 requests to establish regional pharmaceutical plants.

The discussion primarily focused on the expansion of residential cities in Iraq and the country’s demand for materials to support its construction industry. Notably, projects such as the residential city of Bismayah were highlighted as key focal points for development. The Prime Minister’s call for Egyptian participation aligns with Iraq’s broader strategy to enhance its infrastructure and stimulate economic growth.

In response to Al-Sudani’s appeal, Egyptian entrepreneurs expressed keen interest in entering the Iraqi market, collaborating with local private sector entities, and contributing to infrastructure and investment ventures. They emphasized Iraq’s attractiveness as a destination for commercial activities and investments, signaling a promising avenue for bilateral cooperation and mutual prosperity between the two nations.

The meeting serves as a significant step towards strengthening economic ties between Iraq and Egypt, with the potential to unlock new avenues for investment and collaboration. As both nations seek to harness their respective strengths and resources, the prospect of Egyptian firms participating in Iraq’s construction sector signals a promising trajectory for regional development and economic integration.